Quick Take: Trouble with Tactical

I have written a few times over the last few months about the tactical space and how it is a difficult task to call the markets. I follow about 20 tactical asset managers who more or less try to beat the S&P 500. Without getting into names, not one of them has beaten the S&P 500 YTD through April 3, 2019!! Not a one! A couple were close, but why bother with them just to be close when you could simply buy the S&P?

This does not mean that I don’t believe in tactical, since diversifying strategies can be a valid add-on to asset class diversification. It simply means that now is not a time when the tactical models are performing well.

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